February 21, 2017 / 1:46 PM / in 9 months

CANADA STOCKS-Futures higher after rise in oil prices

Feb 21 (Reuters) - Canada’s main stock index futures pointed to a higher start on Tuesday on strengthening oil prices, as OPEC aims for deeper output cuts directed at reining in a global fuel supply overhang.

March futures on the S&P TSX index were up 0.17 percent at 7:15 a.m. ET.

The Toronto Stock Exchange’s S&P/TSX composite index ended its winning streak on Friday, pulling back from the previous day’s record high, pressured by losses for the materials group as prices of base and precious metals fell.

No major Canadian economic releases are scheduled.

Dow Jones Industrial Average e-mini futures were up 0.35 percent at 7:15 a.m. ET, while S&P 500 e-mini futures were up 0.24 percent and Nasdaq 100 e-mini futures were up 0.26 percent.

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TOP STORIES

Restaurant Brands International Inc, owner of the Burger King and Tim Hortons fast-food chains, is nearing a deal to acquire Popeyes Louisiana Kitchen Inc, people familiar with the matter said on Monday.

One in four Canadians say Ottawa should have adopted a temporary halt on Syrian refugees in response to the United States’ controversial travel ban, though the majority supported the government’s current immigration plan, an Angus Reid Institute poll showed on Monday.

The Canada Border Services Agency said on Monday it would investigate whether silicon metal from Brazil, Malaysia and five other countries was being sold at unfairly low prices in Canada after a Quebec-based company filed a complaint.

ANALYST RESEARCH HIGHLIGHTS

Bank of Montreal: KBW raises target price to C$105 from C$95

Fairfax Financial Holdings Ltd: CIBC cuts target price to C$600 from C$650

Royal Bank of Canada: KBW raises target price to C$92 from C$83

COMMODITIES AT 7:15 a.m. ET

Gold futures: $1228.7; -0.72 percent

US crude: $54.34; +1.76 percent

Brent crude: $57.09; +1.62 percent

LME 3-month copper: $6050; -0.33 percent

U.S. ECONOMIC DATA DUE ON TUESDAY

0945 Markit Composite PMI flash for Feb: Prior 55.80

0945 Markit Manufacturing PMI flash for Feb: Expected 55.2; Prior 55.0

0945 Markit Services PMI flash for Feb: Expected 55.7; Prior 55.6

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.31) (Reporting by Shradha Singh in Bengaluru; Editing by Maju Samuel)

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